Group 1 - The core viewpoint is that China's international standardization efforts are making significant progress, with a target of over 83% overall conversion rate of international standards by the end of 2024 [1][3] Group 2 - The scope of international standardization cooperation is expanding, with China signing 125 cooperation documents with 71 countries and organizations, and publishing over 2300 foreign language versions of national standards [1][2] - The governance capacity for international standards is being enhanced, with China actively participating in international standard organizations and taking leadership roles in key areas such as smart shipping and cultural heritage protection [2] - The level of international standardization work is improving, with over 14,000 Chinese experts registered to participate in international standardization efforts, contributing to the development of international standards [2][3] - The degree of collaboration between domestic and international standards is increasing, with China actively proposing international standards in various fields and receiving recognition from the International Organization for Standardization [3]

Group 1 - The 2025 Global Investor Conference held by the Shenzhen Stock Exchange highlighted the increasing interest of global investors in the Chinese capital market, emphasizing the certainty of the Chinese economy and institutional openness as key factors for investment [1] - Since September 26 of the previous year, the market value of foreign-held stocks in strategic emerging industries in Shenzhen has increased by 40%, with trading volume rising by 90% [1] - The Vice Chairman of the China Securities Regulatory Commission (CSRC) stated that a stable Chinese economy will provide irreplaceable investment opportunities for global investors, supported by a robust economic foundation [1] Group 2 - Over 90% of newly listed companies in 2024 are high-tech enterprises, indicating a strong focus on innovation within the Chinese market [2] - The CSRC plans to introduce policies to deepen reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, aiming to provide more suitable and inclusive institutional support for enterprise innovation and growth [2] - As the effects of high-quality economic development and the vitality of reform and opening-up become more evident, the Chinese capital market is expected to become an important platform for more foreign investment [2]

夏日初长，中原大地万物始茂。 郑州机场的跑道上，忙碌时每2分钟就有一架货机起降；洛阳北方易初摩托车有限公司火力全开，赶非 洲客户的新订单；榴莲、山竹等热带水果同步上市，圈粉中部消费者；"五一"假期，河南成入境游热门 目的地…… 这是开放河南欣欣向荣的生动图景，也是河南以开放促发展的鲜活切片。坚定不移扩大高水平对外开 放，河南以融入服务全国统一大市场为牵引，做强枢纽优势，探索开放体制机制创新，持续提升经济开 放水平，朝着建设内陆开放新高地、打造国内国际市场双循环支点的目标大步前行。 提升经济开放气质 将通道优势转化为开放发展优势，河南瞄准枢纽经济发力。对内，推动高铁成网、畅通出海新通道，连 南贯北、承东启西；对外，多维布局，"空陆数海"丝绸之路协同并进，行达天下、货畅其流。河南正以 崭新面貌成为联通国内国际两个市场的重要枢纽。 刚刚闭幕的广交会上，河南收获颇丰：有575家豫企对15个国家现场出口成交额超1000万美元。新客户 与订单为全省外贸发展注入新动力。 迎着国际贸易的风浪奋力前行，豫企出海离不开一揽子稳外贸政策的支撑。今年，河南瞄准企业痛点出 台27条促进外贸稳量提质措施，送政策、畅渠道、搭桥梁，务实精准 ...

天津保税区海关工作人员对即将出口的高空作业平台进行监管检查。 阎志峥摄（中经视觉） 今年是我国北方首个自贸试验区——天津自贸试验区挂牌10周年。天津市副市长、天津自贸试验区管委会主 任李文海介绍，10年来，天津自贸试验区进出口总值增长73%，突破3000亿元大关，有49项制度创新成果在 全国复制推广，制度创新指数在全国22个自贸试验区中连续多年位列前三，区内实有经营主体近9万家。 从进口保税租赁"异地监管"到车厘子"秒"通关，从RCEP"纸黄金"到预裁定展期改革，制度型开放的"天津自 贸经验"正飞越山海，迈向世界舞台。10年来，天津自贸试验区率先构建与国际经贸规则相衔接的制度体系， 作为对接国际高标准推进制度型开放的首批试点，所有试点任务全部完成，5项任务在全国率先落地，制度型 开放水平不断提升。 制度先行结硕果 近日，82台进口中规路虎汽车在天津口岸顺利通关。"新模式让进口通关更便捷。今年一季度，公司在天津港 综保区共进口中规车489台，缩短了通关时长，降低了成本。"天津港保税区天瑞物流有限公司经理张冬旭 说。 今年3月，在河北省秦皇岛市阿那亚艺术中心内，标有"保税展示"字样的艺术品展览区颇为引人关注。 " ...

"投资中国意味着更高的确定性。"李明说，随着资本市场投融资综合改革持续深化，中国资本市场的内 在稳定性将进一步增强。特别是中央政府高度重视加强战略性力量储备和稳市机制建设，中央汇金公司 在前发挥类"平准基金"作用、人民银行在后有力支撑、其他方面协同发力的稳市模式，极大增强了复杂 环境下资本市场应对各类风险挑战的底气和能力。 面对今年4月初美国关税政策引发的全球市场震荡，中国的一揽子稳市"组合拳"迅速推出，中国人民银 行等相关部委释放强有力信号，中央汇金公司加大增持ETF力度，各类投资者积极响应，A股市场迅速 企稳回升。 5月19日，由深交所主办的2025全球投资者大会在深圳举行。中国证监会副主席李明当日在开幕式上表 示，近年来，证监会坚决贯彻落实党中央、国务院关于推动金融高水平开放的重要部署，深入推进市 场、产品、机构双向开放，持续提升跨境投融资的便利性、稳定性。目前，各类境外投资者持有A股流 通市值稳定在3万亿元左右，是A股市场的重要参与力量。 证监会将着力增强制度的透明度和可预期性，完善与国际投资者的沟通机制，进一步提高境外上市备案 质效，优化合格境外投资者等机制安排，支持符合条件的外资机构申请新业务、设 ...

李明表示，接下来，中国证监会将着力增强制度的透明度和可预期性，完善与国际投资者的沟通机制， 进一步提高境外上市备案管理质效，优化合格境外投资者等机制安排，支持符合条件的外资机构申请新 业务、设立新产品，不断健全跨境金融服务体系。将着力增强对外开放的系统性，加强股票、债券、期 货市场开放的相互协同，加大期货期权国际化品种供给，丰富资产配置和风险管理等工具。将着力增强 双边和多边跨境监管合作，积极参与国际标准规则制定，进一步加强内地与香港市场合作，巩固香港国 际金融中心地位。 首先，投资中国意味着更高的确定性。这种确定性来自稳健的经济基本面，中国具有完整的产业体系、 齐备的基础设施、超大的市场规模、不断积聚的发展动能、长治久安的社会环境，在世界经济增长放缓 的背景下，中国坚持扩大内需与扩大开放并重，加快构建新发展格局，一直是全球GDP增长的主要贡献 者，今年一季度中国GDP同比增长5.4%，取得"开门红"，展现出强大的韧性。 其次，充满活力的上市公司群体是投资中国的价值源泉。近年来，中国证监会牢牢把握上市公司作为资 本市场基石的定位，着力强化产品和服务支持，规范活跃并购重组市场，督促完善治理结构，引导提升 ESG ...

Core Viewpoint - The construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has faced new opportunities and challenges after six years since the release of the development plan in 2019, particularly in the context of global uncertainties exacerbated by trade tensions initiated by the U.S. [1] Group 1: Guangdong's Role - Guangdong is actively promoting deep integration and cooperation within the GBA, establishing a solid foundation for collaborative development among the three regions [3] - The Shenzhen Financial Bureau has initiated four specialized teams to enhance financial cooperation with Hong Kong, focusing on areas such as enterprise overseas expansion and financial technology [3] - There is a strong emphasis on supporting GBA enterprises to list in Hong Kong and facilitating the return of qualified Hong Kong companies to the Shenzhen Stock Exchange [3] Group 2: Hong Kong's Contribution - Hong Kong plays an irreplaceable role in the GBA as an international financial center, focusing on four financial areas: innovative finance, green finance, livelihood finance, and Silk Road finance [5] - The introduction of the 18A listing rule has positioned Hong Kong as the second-largest biotech financing center globally, with potential for around 70,000 tech companies in the GBA to seek funding through this platform [5] - Hong Kong aims to enhance its role as a "super connector" for mainland enterprises seeking to expand internationally, leveraging its unique legal advantages and high-quality professional services [5][8] Group 3: Macao's Strategic Position - Macao is positioned as a "precise connector" targeting Portuguese-speaking countries, complementing Hong Kong's role [6][7] - The Macao Financial Management Bureau is focusing on enhancing connectivity with mainland and Hong Kong financial markets, including plans for a rapid payment system and digital currency integration [7] Group 4: Common Strategies Amid Uncertainty - Key strategies discussed by participants from Guangdong, Hong Kong, and Macao include open innovation to address global uncertainties and trade tensions [8] - Emphasis on strengthening the dual circulation hub function, enhancing domestic demand, and promoting deep integration with the mainland market [8] - The importance of leveraging the "One Country, Two Systems" advantage to enhance international cooperation and trade investment links, particularly with ASEAN and BRICS countries [8][9]

2025年5月19日—20日，由深圳证券交易所主办的2025全球投资者大会在深圳举行。 "充满活力的上市公司群体是投资中国的价值源泉。"李明表示，近年来，中国证监会牢牢把握上市公司作为资 本市场基石的这一定位，着力强化产品和服务支持，规范活跃并购重组市场，督促完善治理结构，引导提升 ESG信息披露质量，落实市值管理责任，加快优胜劣汰，大力推动上市公司提高自身质量和投资价值。 从2024年年报看，面对多重压力，A股上市公司业绩总体保持韧性，四分之三的公司实现盈利，五成企业的利 润保持增长。其中，两方面变化值得关注。 一是A股上市公司的科技成色和创新动能不断提升。 2024年以来新上市的公司中，高新技术企业占比超过九 成，全市场战略性新兴产业上市公司市值占比超过四成，先进制造、数字经济、绿色低碳等领域快速涌现出一 批龙头企业，在全球竞争中崭露头角，被全球投资者广泛关注。上市公司创新动力强劲，2024年实体上市公司 研发费用合计1.6万亿元，同比增长3.1%，超过800家上市公司研发强度超过10%。这些反映了中国新质生产力 发展的最新成效，生动展现了中国创新的活力和巨大的发展潜力。李明表示，近期，还将出台深化科创板 ...

2025年5月19日—20日，由深圳证券交易所主办的2025全球投资者大会在深圳举行。 5月19日，中国证监会副主席李明在大会开幕式上致辞时表示，随着中国经济高质量发展成效的进一步彰显、 改革开放活力的进一步释放，中国资本市场必将成为更多外资投资兴业的重要平台，为全球投资者共享中国发 展红利提供更多机遇。 "投资中国意味着更高的确定性。"李明表示，这种确定性来自于稳健的经济基本面、来自于稳定的政策预期。 数据显示，今年一季度中国GDP同比增长5.4%，取得"开门红"，展现出强大的韧性。这背后，中国具有完整的 产业体系、齐备的基础设施、超大的市场规模、不断积聚的发展动能、长治久安的社会环境，在世界经济增长 放缓的背景下，中国坚持扩大内需与扩大开放并重，加快构建新发展格局，一直是全球GDP增长的主要贡献 者。 从资本市场自身看，去年以来新"国九条"和"1+N"政策体系逐步落地，监管执法和投资者保护力度不断加强， 中长期资金入市、公募基金改革等关键举措深入推进，市场生态正加快完善，随着资本市场投融资综合改革持 续深化，中国资本市场的内在稳定性将进一步增强。 二是上市公司更加注重回报投资者。2024年，A股上市公司共 ...

Group 1: Development Opportunities in the Greater Bay Area - The Greater Bay Area is experiencing a clear trend of integration and development despite increasing external uncertainties, with Hong Kong's role as a major offshore RMB center expected to strengthen [1] - Shenzhen's financial bureau plans to enhance cooperation with Hong Kong through project-based initiatives, support listings for Shenzhen and Greater Bay Area companies in Hong Kong, and improve cross-border transaction efficiency [1] Group 2: Financial Innovation and Connectivity - Hong Kong's financial sector possesses unique advantages in financing and investment, aiming to deepen financial connectivity with the mainland through initiatives like Stock Connect and Bond Connect, while promoting RMB internationalization [2] - The Hong Kong government emphasizes the development of innovative finance, green finance, livelihood finance, and Silk Road finance, with significant achievements in innovative finance, becoming the world's second-largest biotech financing center [2] Group 3: Macau's Role and Sector Focus - Macau aims for moderate economic diversification, focusing on traditional Chinese medicine, modern finance, high-tech, and cultural sports, while enhancing connectivity with the mainland and Hong Kong in the financial sector [3] - Macau plans to facilitate cross-border capital flow and digital currency integration, leveraging its connections with Portuguese-speaking countries to promote outbound and inbound business [3] Group 4: Strategies for Addressing Challenges - The Greater Bay Area should enhance technological self-innovation, deepen institutional openness, and strengthen industrial chain resilience, with capital market development being crucial for optimizing financing structures and promoting cross-border capital flow [3]